Abstract
Because new‐product projects underperform at an alarming rate, many companies have sought solutions in the form of a professional idea‐to‐launch process or methodology, such as Stage‐Gate
®
. A Stage‐Gate
®
system consists of a series of stages, typically five; each stage prescribes the key tasks and best practices for the project team to execute. Stages are preceded by gates, which are the quality check and Go/Kill or investment decision points in the process. Stage‐Gate
®
systems build in known best practices in the field of new‐product development, and hence improve project success rates and performance.
